ChainCatcher report, according to Business Insider, AI infrastructure company Fireworks AI is in preliminary discussions for a new funding round, with a target valuation of $30 billion to $40 billion—up to 10 times its $4 billion valuation during its Series C financing in October 2025. The negotiations are still in early stages, and the target valuation may change; the company declined to comment, and the report did not disclose the size of this funding round. Fireworks AI was founded in 2022 by engineers from Meta’s open-source AI framework PyTorch team, providing services to enterprises for customizing and deploying open-source models based on their own data. In July 2026, the company announced the completion of a $1.505 billion Series D financing round at a $17.5 billion valuation, stating that its annualized revenue had surpassed $1 billion and daily token processing volume had increased from 15 trillion during the previous round to over 40 trillion.
Fireworks AI Targets $40 Billion Valuation in New Funding Round
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Summary
Fireworks AI is in early discussions for a new funding round aiming for a $30 billion to $40 billion valuation, up from its $4 billion valuation in October 2025. The leader in AI and crypto news, founded by Meta’s PyTorch team, provides enterprise tools for customizing open-source AI models. It raised $1.05 billion in July 2026 at a $17.5 billion valuation, with daily token processing exceeding 40 trillion and annualized revenue surpassing $10 billion. New token listings could follow a successful round.
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